Search in Indianmoney's WealthPedia

Home Articles Documents Needed When Filing ITR

Documents Needed When Filing ITR Research Team | Posted On Tuesday, July 24,2018, 04:02 PM

5.0 / 5 based on 1 User Reviews

Documents Needed When Filing ITR




31st July, the last date to file Income Tax Returns (ITR) is soon approaching. There is still time to avoid paying a penalty or receiving tax notices on the grounds of not filing returns. True, filing tax returns is a difficult task! You have to be mindful of various sections, schedules and lists while filing tax returns. In addition, you also need to furnish certain documents as evidence. 

Want to know more on Tax Planning? We at will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.


You May Also Watch: 


Iframe Content


Documents Needed When Filing ITR


Tax filing requires you to recall and keep track of spending, saving and return from investments. Just recalling these details is not enough. What purpose will it serve without any proof? Every transaction is required to be backed by evidence. Keeping all the necessary documents handy will ease the process of filing ITR.

In this article, we will bring to your notice the documents required when filing ITR:


1. Form 16:


This is one of the most important documents for a salaried individual to file ITR. This document issued by an employer mentions details of salary paid and TDS deducted on it, if any. An employer has to compulsorily issue Form 16 to employees on deduction of TDS from salaries. If no TDS is deducted, an employee can place a request for the issuance of this form.

Salaried taxpayers are required to provide the salary break-up in the ITR Form 1. Form 16 makes it easy to determine the salary breakup.

So, what is this breakup?

Form 16 has two parts:

  • Part A: Has details of TDS deducted for the year, Permanent Account Number (PAN) and TAN of the employer.
  • Part B: Has gross salary break-up details such as exempt allowances, perquisites, profit in lieu of salary and so on.


2. Salary slips:


Salaried taxpayers are also required to furnish details of taxable allowances like House Rent Allowance, Transport Allowance and so on.

These details are available in your salary slips. You can add each allowance received during the year and calculate the taxable portion. Each allowance received has a different tax treatment:

  • Special allowances received during the previous year are fully taxable.
  • Transport allowance received is exempt up to Rs 19,200 a year.
  • From the Financial Year 2018-19, a standard deduction of Rs 40,000 is available in lieu of transport allowance and medical reimbursement.


3. Interest certificates:


If you have received interest from savings bank accounts, post office savings accounts, fixed deposits and recurring deposits, you must obtain interest certificates from the respective financial institutions.

An alternative to the interest certificate is an updated passbook which shows details regarding the interest credited to your account.


4. Form 16A, Form 16B, Form 16C:


These forms are issued when TDS is deducted on income earned apart from salary. Form 16A is issued in case TDS is deducted on interest received from fixed deposits, recurring deposits, and so on. The buyer of a property issues Form 16B, showing the TDS deducted on the amount paid to the seller. Form 16C is issued by a landlord receiving rental income.


5. Form 26AS:


Form 26AS is like a tax statement that consolidates your annual taxes. Form 26AS mentions details of the following taxes deducted or deposited against your PAN:

  1. TDS deducted on salary
  2. TDS deducted on interest income
  3. TDS deducted by organizations for the payments made to you
  4. Advance taxes paid by you
  5. Self-assessment taxes deposited by you


SEE ALSO: teams up with Oneindia to spread financial literacy


6. Deductions under Section 80C, 80CCC, 80CCD (1):


Investments or expenditures made which enjoy the section 80C, 80CCC and 80CCD (1) tax deductions, lower your tax liability. You can claim a combined maximum of Rs 1.5 Lakhs, under these three sections.


7. Deductions under Section 80D to 80U:


Apart from investments and expenditures which enjoy the Section 80C benefit, you can claim a deduction for expenses like health insurance premiums under Section 80D for a maximum of Rs 25,000 a year. If you have paid your parent’s health insurance premiums, you can claim an additional deduction of Rs 25,000 (for parent’s aged below 60) or Rs 50,000 (for parents aged 60 years or above). Interest paid on education loan can be claimed under Section 80E up to any amount.


8. Home loan statement:


Collect a Home Loan statement if you have availed a Home Loan from banks/NBFCs or other financial institutions. The statement gives you a break-up on how principal and interest are repaid. Interest repaid on the home loan can be claimed under Section 24 to a maximum of Rs 2 Lakhs a year.


9. Capital gains:


Any capital gains earned from the sale of property/mutual funds should be reported while filing ITR. In case of capital gains earned on the sale of property, purchase deed and sale deed is required to compute capital gains. In case of capital gains earned on the sale of mutual funds/shares, you will require statements from mutual fund houses or brokers.


10. Aadhaar card:


It is mandatory to provide Aadhaar details in order to successfully file ITR according to Section 139AA of the Income Tax Act. Aadhaar enrolment ID can be provided if you have applied for the Aadhaar and not received it.


Be Wise, Get Rich.

What is your Credit Score? Get FREE Credit Score in 1 Minute!

Get Start Now!
Get It now!

This is to inform that Suvision Holdings Pvt Ltd ("") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.